Guideline Value for Pon Nagar

Pon Nagar guideline value

The current guideline value of Pon Nagar, located in Vadaperumbakkam village under the Redhills SRO, is Rs 1,006 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Pon Nagar has changed

The guideline value of Pon Nagar has undergone several revisions over the years. In 2003, the value was Rs 31 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007. The value then rose to Rs 500 per sq.ft in 2012, but saw a decrease to Rs 335 per sq.ft in 2017. The 2023 revision marked a substantial increase to Rs 500 per sq.ft, followed by a notable rise to Rs 1,006 per sq.ft in 2024.

From 2003 to 2024, the overall change in guideline value is +3145%. Notably, the jump from 2023 to 2024 reflects an increase of +101%, while the increase from 2017 to 2023 was +49%. The register has no figure for this street for the year 2002.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO carrying a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. Pon Nagar's 2024 figure is above this median.

• Pon Nagar-2: Rs 1,000 per sq.ft (2024)
• Prakash Nagar: Rs 1,000 per sq.ft (2024)
• Perumal Koil Street: Rs 1,004 per sq.ft (2024)
• Parvathypuram Part III: Rs 1,003 per sq.ft (2024)
• Parvathipuram Part-IV: Rs 1,003 per sq.ft (2024)
• Parvathipuram Part-II: Rs 1,003 per sq.ft (2024)

Stamp duty and registration fee for property in Pon Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,006 per sq.ft, the total guideline value amounts to Rs 10,06,000. The stamp duty at 7% would be Rs 70,420, and the registration fee at 2% would be Rs 20,120, bringing the total to Rs 90,540. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pon Nagar?

The Pon Nagar area falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Vadaperumbakkam

The guideline value is crucial during the registration process of property transactions in Vadaperumbakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the negotiated sale price. This ensures compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Pon Nagar?

The current guideline value of Pon Nagar is Rs 1,006 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 31 per sq.ft in 2003 to Rs 1,006 per sq.ft in 2024, marking an overall increase of +3145%.

What is the classification of land in Pon Nagar?

Pon Nagar is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated in Pon Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 90,540.